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Insurance Data Analyst jobs

A data analyst in the insurance sector plays a crucial role in analyzing and interpreting large amounts of data to support decision-making processes within insurance companies. Here are some key responsibilities and tasks typically performed by a data analyst in the insurance sector:

Data Collection and Cleaning: Data analysts gather relevant data from various sources, including customer information, claims data, policy details, and financial records. They ensure that the data is accurate, complete, and properly formatted for analysis.

Data Analysis and Interpretation: Once the data is collected, data analysts use statistical techniques and data analysis tools to identify patterns, trends, and insights within the data. They analyze the data to gain a better understanding of customer behavior, risk profiles, claims experience, and other factors relevant to the insurance industry.

Risk Assessment and Underwriting: Data analysts assess risk levels associated with different insurance policies and help underwriters in evaluating the likelihood of claims and determining appropriate premiums. They analyze historical data, market trends, and risk factors to provide insights that support the underwriting process.

Overall, the role of a data analyst in the insurance sector is to extract meaningful insights from data, support risk assessment and underwriting processes, facilitate informed decision-making, and contribute to the overall success of insurance companies.

Insurance

Data Analytics in Insurance industry

Data analytics has become a critical component of the insurance industry, offering the ability to gain insights into customer behavior, policy risks, and claim surety. Actuaries have traditionally used analytics to analyze past events and manage risk, but now the industry is demanding more predictive and prescriptive analytics capabilities to enable data-driven business decisions.

The use of big data analytics and external sources of data is transforming the insurance industry, offering more precise information about transactions, product performance, and customer satisfaction.

Many insurance companies are investing in advanced data and analytics underwriting capabilities that can deliver substantial value, including improved underwriting performance, higher new business premiums, and enhanced efficiency. With the help of data analytics, insurance companies can optimize every function in the insurance value chain, allowing them to better understand customer needs, safeguard against fraud, and stay ahead of the competition.

Insurance

Data Analyst salary in Insurance industry

What is Insurance data analyst salary?

Data Analyst salary in Insurance industry

Data analysts are in high demand, and their salaries reflect their skills and expertise. The salary of a data analyst can be influenced by several factors such as experience, industry, location, and job title.

Generally, with increased experience, data analysts can expect to command higher salaries. The data analyst salary guide provides the overview of salaries in various industries, with a deep dive into how much entry level, senior and lead data analysts can earn depending on their experience.

In the Insurance industry we currently have 89 data analyst jobs in our database.

Average data analyst salary for a Insurance data analyst, is currently $98,673 per year.

Depending on experience, the average entry level data analyst salary is $78,691, senior data analyst salary is $95,701 and lead data analyst commands $118,730 per year, in the Insurance industry.

Data Analyst salary in Insurance industry

Insurance
Total number of roles: 
89
Average Salary
per year
$98,673
Median Salary
per year
$92,800
Minimum Salary
per year
$40,000
Maximum Salary
per year
$204,600

What is Entry level insurance data analyst salary?

What is Senior insurance data analyst salary?

What is Lead insurance data analyst salary?

How much is Entry level insurance data analyst salary?

Insurance
Entry level data analyst
0 - 3 years of experience
Total number of roles: 
21
Average Salary
per year
$78,691
Median Salary
per year
$76,400
Minimum Salary
per year
$40,000
Maximum Salary
per year
$139,200

How much is Senior insurance data analyst salary?

Insurance
Senior data analyst
3 - 5 years of experience
Total number of roles: 
41
Average Salary
per year
$95,701
Median Salary
per year
$91,800
Minimum Salary
per year
$45,000
Maximum Salary
per year
$196,000

How much is Lead insurance data analyst salary?

Insurance
Lead data analyst
5 - 10 years of experience
Total number of roles: 
27
Average Salary
per year
$118,730
Median Salary
per year
$112,450
Minimum Salary
per year
$67,100
Maximum Salary
per year
$204,600

Where do you get the data from?

We only used data from jobs posted on our website to calculate data analyst salaries. In the brackets next to each industry or state you can see how many data analyst jobs in the said industry/state we have on our site.

Please note that in many cases we currently only have < 10 data points to draw from, therefore the accuracy will improve as the amount of data analyst job opportunities on the site increases.

Check out the complete data analyst salary guide for salary information across United States.

Last update: 1st July, 2024

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